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Key Capitol Hill Hearings

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America 18, California 16, Michigan 16, Montana 15, Us 13, Fema 13, Washington 13, Virginia 12, Mr. Horsford 9, Florida 9, Russia 9, New York 7, Mr. Grimm 5, Nevada 5, Grimm 5, Richmond 5, Mr. Daines 4, Louisiana 4, Afghanistan 4, Dr. Benishek 3,
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  CSPAN    Key Capitol Hill Hearings    Series/Special. Speeches from policy makers  
   and coverage from around the country. (Stereo)  

    March 4, 2014
    4:00 - 6:01pm EST  

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we we know where to start. with the economy picking up speed, companies say they intend to hire more people this year and over half of big manufacturers say they are thinking of insourcing jobs from abroad. we need to make that decision easier for more companies. both democrats and republicans have argued that the task code -- tax code is riddled with complicate loopholes that make it harder to invest here and encourage companies to keep profits abroad. last summer i offered a proposed -- proposal to couple business tax reform with critical investments in infrastructure. this budget includes that proposal using the transition revenue that will result from a shift to a simpler, more efficient tax code to create rebounding -- jobs rebounding, our roads and bridges and unclogging our communities. because in today's global conomy, first class jobs
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dwravetate to first class infrastructure -- gravitate to first class infrastructure and at times this budget lays out how mied a strailings will continue to act it cut red tape and stream line the permitting process for key projects so we can get more construction workers on the jobs as fast as possible. also have the chance right now to beat other countries in the race for the next wave of high-tech manufacturing jobs. my administration has already launched four hubs of high-tech manufacturing where we connect to businesses to research universities that can help america lead the world in advanced technologies. the budgeter expands on these effort combiss providing funding for five additional institutes and through the opportunity growth and security initiative, supports the goal i announced last sum for creating a national network of 45 of these manufacturing entities over the next 10 years. we know that the nation that goes all in on innovation today will own the global economy
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tomorrow. this is an edge america cannot surrender. that is why the budget includes investments in cutting-edge research and development, driving scientific and technological breakthroughs that will create jobs, improve lives and open new opportunities for the american people. the budget's opportunity growth and security initiative will allow us to push our limits even further, supporting additional biomedical research at the national institutes of health that will help us fight alzheimer's, cancer and other diseases. climate research to develop climate change resilient infrastructure, and agriculture research that will help increase agriculture productivity and improve health. -- we also know that one of the biggest facters
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in bringing more jobs back is our commitment to american energy. the all-of-the-above energy strategy that i announced a few years ago is working and today america's closer to energy independence than we have been in decades. safe and ensures the responsible production of natural gas and cleaner electricity generation from fossil fuels. it creates new incentives to cut the amount of energy we place in our cars, trucks, homes and factories. it promotes clean energy in things like solar, by making permanent tax credits. and it continues to strength protection of our air, water, land and communities and addresses the threat of climate change. climate change is in fact -- is a fact and we have to act with much more urgency to address it because a changing climate is already harming western communities, struggling with drought and coastal cities dealing with floods.
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that is why i directed my administration to work with states, utilities and others to set new standards on the amount of carbon pollution our power plants are allowed to dump into the air. and why this budget advances new approaches to the growing cost of damage from wildfires. research shows that one of the best investments we can make in a child's life is high-quality early education. this year we will invest in new partnerships with states and communities across the country, to expand access to high-quality early education and i'm again calling on the congress to make high quality preschool available to every 4-year-old child. the budget also includes funding to provide access to high-quality infant and toddler care for more than 100,000 children and supports the extension and expansion of voluntary home visiting programs. the budget also supports redesigning our high schools, helping them partner with colleges and employers that offer college-level course work
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and real work skills. to prepare the students for college and careers. and it launches a new race to the top competition aimed at closing the achievement gap so that all children get the high quality education they need to succeed. we also must do more to ensure our economy honors the dig in -- dignity of work and hard work pays off for all of our citizens. americans overwhelmingly agree that no one who works full-time should ever have to raise a family in poverty. i've already acted by executive order to regard the -- require the federal contractors to play their federally funded employees a fair age of $10.10 an hour. the congress needs to go further and raise the minimum wage for all workers that do the same amount. this will raise -- will help raise families and will help the economy by giving business customers with more money to spend by boosting productivity and reducing turnover.
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the budget also invests in enforcement efforts to make sure workers receive the wages and overtime they have earned. we also need to do more to help americans save for retirement. today most workers do not have a pension. social security check is often not enough on its own. and while the stock market has doubled over the last five years, that does not improve retirement security for people who do not have retirement savings. that is why the budget bills on my proposal to create a new way for working americans to start saving for retirement. my -- the myra savings bond. to encourage new savers, myra requires a low initial contribution and guarantees a decent return with no risk losing what you have put in. separately, the budget also proposes to establish automatic enrollment, individual retirement accounts, offering every american access to an automatic savings vehicle on the job. we must always remember that economic growth and opportunity
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can only be reached if america's safe and secure. at home, the budget supports efforts to make our communities safer by reducing gun violence and reforming our criminal justice system. looking beyond our borders, the budget responsibility transitions from the completion of our military mission in afghanistan in 2014 to political and security support for a unified afghan government as it takes full responsibility for its own future. when i took office, nearly 180,000 americans were serving in iraq and afghanistan. today all of our troops are out of iraq and more than 60,000 of our troops have already come home from afghanistan. with afghan forces now in the lead for their own security, our troops have moved to a support role. together with our allies we will complete our mission there by the end of the year and america's longest war will finally be over. in addition to responsibility
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winding down our operations in afghanistan, the budget ensures we maintain ready, modern and capable defense forces to address any threats we might face, including threats from terrorism and cyberattacks. it funds humanitarian and diplomatic efforts in syria, supports transition and reform throughout the middle east and north africa, and advances our strategic rebalancing toward the asia-pacific region. it enhances stability and creates new markets for u.s. businesses with investments in power africa and promotes peace and security by supporting global health care and addressing climate change. and it strengthens oversight of intelligence activities and enhances the protection of u.s. diplomatic facilities and personnel overseas. the budget also ensures we continue to meet our obligations to our troops and veterans who have given so much to our country. to deliver on this commitment, it provides significant resources to support veterans'
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medical care, help military families, assist soldiers transitioning to civilian life, and reduce veterans' homelessness and reduce disabilities claims backlogs so our veterans receive the benefits they have earned. it also introduces necessary reforms to our military compensation system which our uniform military leadership called for, to ensure service members and their families receive the benefits that they have earned while making sure that our military can invest in the training, equipment and support that it needs. in addition to making these critical investments, the yugget budget outlines the steps my administration is taking to create a 21st century government that is more efficient, effective and supporting of economic growth. our citizens and businesses expect their government to provide the same level of service experienced in the private sector and we intend to deliver. the budget includes initiatives that will lead to better, faster, smarter services both online and in person.
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it calls on federal agencies to share services and limits the buying power of the government to bring greater efficiency to taxpayer dollars it. continues to open government data and research for public and private sector use to spur innovation and job creation. and it invests in the government's most important resource, its workers. ensuring that we can attract and retain the best talent in the federal work force and forest ar culture of excellence. the budget does all of these things while furlt strengthening the nation's fiscal outlook. we have cut the deficit in half as a share of the economy, experiencing the fastest fury of deficit reduction since the demobilization of world war ii. the budget continues this progress. bringing deficits down to a share of the economy to 2% by 2023 and putting the debt on a
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declining path. we've seen a notable and significant decline in health care spending growth over the last few years, in part due to the affordable care act, we know that over the long run, the growth of the health care costs continues to be our nation's most pressing fiscal challenge. that is why the budget builds on the savings and reforms to health reform law with additional measures to strengthen medicare and medicaid and encourage high-quality and efficient health care. we also know that revenue has to be a part of the solution to our nation's long-term fiscal challenges. given the aging of our population and the declining ratio of workers to retirees, we will need additional revenue to maintain our commitment to seniors, while also making the investments that are needed to grow our economy and expand opportunity. e budget secures the revenue
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-- the budget secures the revenues through tax reform that reduces inefficient tax breaks and ensures that everyone from main street to wall street is getting their fair share. finally, if we are serious about long-term sustainable economic growth and deficit reduction, it is also time to heed the call to business leaders, labor leaders, faith leaders and law enforcement and fix our broken immigration system. independent economists say immigration reform would grow our economy and strengthen -- shrink our deficits almost by $1 trillion in the next few decades. and for good reason. when people come here to fulfill their dreams, to study and then and contribute to our culture, they make our country more attractive place for business to locate and to help create jobs for everyone. the senate has acted to pass a bipartisan immigration reform bill that is worthy of support. it is time for the house of representatives to finish the job. we have made progress over the last five years. but our work is not done.
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the budget provides a road map for ensuring middle class families and those working to be a part of the middle class can feel secure in their jobs, homes and budgets, to build real lasting economic security, we also need to expand opportunity for all so every american can get ahead and have a shot at creating a better life for their kids. none of it is easy. america has never come easy. but if we work together, if we summon what is best us in, i know it is within our reach. signed, barack obama, the white house, march 4, 2014. the speaker pro tempore: referred to the committee on appropriations and ordered precipitationed. pursuant to is clause 12-a of rule 1, the chair declares the house in recess subject to the call of the chair.
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it is budget day on capitol hill. the budget delivered to capitol hill to members of congress and to other administration officials, some video here earlier today. the president's $3.9 trillion
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budget proposal for fiscal year 2015 with a number cabinet secretaries testifying on capitol hill tomorrow. lots of coverage to tell you about. more about that in just a bit. first, though, the president from this morning at powell elementary school in washington, d.c., dealing some of his education priorities in the 2015 budget. >> good morning, everybody. i am here at powell elementary school and just had a chance to see some of the outstanding students here. i thought it was an appropriate setting for me to say a few words about the budget i sent to congress this morning because obviously the budget is not just about numbers. it's about our values. and it's about our future. and how well we are laying the
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groundwork for those young children that i was with a few moments ago to be able to succeed here in america. these kids may not be the most excited people in town on budget day, but it is designed with their generation and uture generations in mind. in my state of the union address, i laid out an agenda to restore opportunity for all people, to uphold the principle that no matter who you are, no matter where you started, you can make it if you try, here in america. this opportunity agenda is built on four parts. more good jobs and good wages, taking sure we are training workers with the skills they need to get those good jobs. guaranteeing every child access to a world-class education. and making sure that our economy is one in which hard work is rewarded. the budget i sent congress this morning lays out how we will
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implement this agenda in a balanced and responsible way. it is a roadmap for creating jobs, good wages, and expanding opportunity for americans. at a time when our deficit has been cut in half, it enables us to meet our obligations to future generations without a mountain of debt. this adheres to the spending principles members of both houses and both parties agreed to. it also builds on that progress with what we are calling an opportunity, growth, and security initiative, that invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and well-connected. will give you an example. right now our tax system provides benefits to wealthy individuals who save, even after they have amassed multimillion dollar retirement accounts. by closing that loophole, we can help create jobs and grow the economy, and expand opportunity without adding a
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dime to the deficit. we know the country that wins the race for new technology will win the race for new jobs, so this budget creates 45 high-tech manufacturing hubs where businesses and universities will partner to turn groundbreaking research into new industries and new jobs made in america. we know, and this is part of the reason we are here today, that education has to start at the earliest possible ages. so this budget expands access to the kind of high-quality preschool and other learning programs to give all our children the same opportunities the most wonderful children we just saw are getting right here at powell. we know that while not all of today's good jobs will require four-year college degree, more and more of them are going to require some form of higher education or specialized training, so this budget expands
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apprenticeships to connect more ready to work americans with ready to be filled jobs. and we know that future generations will continue to deal with the effects of the warming planet, so this budget proposes a smarter way to address the costs of wildfires. it includes over $1 billion in funding to help communities prepare for a changing climate today, and set up incentives to build smarter and more resilient infrastructure. we also know that the most effective and historically bipartisan ways to reduce poverty and help hardworking families pull themselves up is the earned income tax credit. right now, it helps about half of all parents in america at some point in their lives. this budget gives millions more workers the opportunity to take advantage of the tax credit. and it pays for it by closing loopholes like the ones that let wealthy individuals classify themselves as a small business to avoid paying their fair share of taxes. this budget will also continue
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to put our fiscal house in order over the long term, not by putting the burden on folks who can least afford it, but by reforming our tax code and our immigration system and building on the progress that we made to reduce health care costs under the affordable care act. it puts our debt on a downward path as a share of our total economy, which independent experts have said is a critical target for fiscal responsibility. as i said at the outset, our budget is about choices. it is about our values. as a country, we have to make a decision, if we are going to protect tax breaks for the wealthiest americans or if we're going to make smart investments necessary to create jobs, grow our economy and expand opportunity for every american. at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class or if we're going to continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class.
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the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it this year and in the years to come as president. thank you very much, everybody. michael? >> do you have any response to president putin's press conference this morning? is chancellor merkel right that he has lost touch with reality? have you spoken to him personally? >> i have not spoken to him since i spoke to him this past weekend. but obviously, me and my national security team have been watching events unfolding in ukraine very closely. i met with them again today. as many of you know, john kerry is in kiev as we speak, at my direction. he's expressing our full support for the ukrainian people. over the past several weeks, we've been working with our partners and with the i.m.f. to build international support for a package that helps to
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stabilize ukraine's economy. and today we announced a significant package of our own to support the ukraine's economy and to also provide them with the technical assistance they need. it includes a plan loan guarantee package of $1 billion. it provides immediate technical expertise to ukraine to repair its economy. importantly, it provides for assistance to help ukraine plan for elections that are going to be coming up very soon. as i said yesterday, it is important that congress stand with us. i don't doubt the bipartisan concern that's been expressed about the situation in the ukraine. there is something immediate congress can do to help us. that is to help finance the economic package that could stabilize the economy in ukraine, help to make sure that fair and free elections take place very soon, and as a consequence helps to de-escalate the crisis.
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in the meantime, we are consulting with our international allies across the board. together, the international community has condemned russia's violation of the territorial integrity and sovereignty of ukraine. he have condemned their intervention in crimea. and we are calling for a de-escalation of the situation, and international monitors that can go into the country right away. and above all, we believe that the ukrainian people should be able to decide their own future, which is why the world should be focused on helping them stabilize the situation economically and move towards the fair and free elections that are currently scheduled to take place in may. there have been some reports that president putin is pausing for a moment, reflecting on what's happened. i think we've all seen that,
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from the perspective of the european union, the united ates, allies like canada and japan and allies and friends and partners around the world, there is a strong belief that russia's action is violating international law. i know president putin seems to have a different set of lawyers, maybe a different set of interpretations. but i do not think that is fooling anybody. i think everybody recognizes that, although russia has legitimate interests in what happens in a neighboring state, that does not give it the right to use force as a means of exerting influence inside of that state. we have said that if, in fact, there is any evidence out there that russian speakers, russian natives, russian nationals are in any way being threatened, there are ways of dealing with that through international mechanisms.
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and we are prepared to make sure that the rights of all ukrainians are upheld. and in fact, in conversations we have had with the government in kiev, they have been more than willing to work with the international community and with russia to provide such assurances. the fact that we are still seeing soldiers out of their barracks in crimea is an indication to which what is happening there is not based on actual concern for russian nationals or russian speakers inside of ukraine, but is based on russia seeking, through force, to exert influence on a neighboring country. that is not how international aw is supposed to operate. i would also note just the way
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that some of this has been reported -- there is a suggestion somehow that the russian actions have been clever strategically. actually think this has not been a sign of strength, but rather is a reflection that countries near russia have deep concerns and suspicions about this kind of meddling. if anything, it will push many countries further away from russia. there is the ability for ukraine to be a friend of the west and a friend of russia's, as long as none of us are in ukraine, trying to meddle and intervene, certainly not militarily, with decisions that properly belong to the ukrainian people. that is the principle that john kerry is going to be speaking to during his visit. i will be making additional calls today to some of our key foreign partners, and i suspect i will be doing that all week and through the weekend.
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as i indicated yesterday, the course of history is for people to want to be free to make their own decisions about their own futures. the international community, i think, is unified in believing that it is not the role of an outside force, where there has been no evidence of serious violence. where there's been no rationale under international law to intervene and people trying to determine their own destiny. so we stand on the side of history that i think more and more people around the world deeply believe in the principle that a sovereign people, independent people, are able to make their own decisions about their own lives. mr. putin can throw a lot of words out there, but the facts on the ground indicate that right now he is not abiding by hat principle.
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there is still the opportunity for russia to do so, working with the international community to help stabilize the situation. we have sent a clear message that we are prepared to work with anybody, if they're genuine interest is making sure that ukraine is able to govern itself. as i indicated before, omething i think is not an -- has not been emphasized enough, they are currently scheduled to have elections in may. everybody in the international community should be invested in aking sure that the economic deterioration that's happened in the ukraine stops, but also that these elections are perceived in a fair and free way, in which all ukrainians, including russian speakers, inside of ukraine, are able to express their choice of who should lead hem. if we have a strong, robust, legitimate election, there should not be any question as
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o whether the ukrainian people govern themselves without the kinds of outside interference we see russia exert. all right? thank you very much, everybody. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2014] >> budget day in the nation's capital with the president kicking things off at powell elementary school in washington, d.c., talking about some of his education priorities and there at the end taking some questions about ukraine from reporters who've been covering the president. in about half an hour we expect the house to gavel back in. they'll finish up their legislative work for the afternoon and back for votes at 6:30. one of the bills still for considered is a bill that would moderate proposed increases in premiums under the national flood insurance program. the senate passed its own version of that bill back in january. live house coverage when they
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return. again, we expect that about 5:00 eastern here on c-span. well, the administration, as you heard, today unveiled the president's fiscal year 2015 budget proposal. earlier this afternoon, white house economic advisors, including the director of the office of management and budget, delved into details of his 2015 plan. emphasizing what the white house is calling a growth and opportunity agenda. they spent about 50 minutes with reporters today at the old executive office building next to the white house. we will show you as much of this as we can until the house returns at about 5:00. >> it is budget day in washington. we have the director of the office of management and budget, sylvia burwell. i have jason furman. cecilia munoz, the director of the domestic policy council and gene sperling, director of the
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national economic council. each of my guests will have an opening statement and then we'll take questions related to budget matters. i'll try to direct traffic in that question and answer session. i will have some time for a few questions at the end on other subjects. ukraine, obviously, included. but if you could hold questions on those subjects not related to the budget until after we're done with q&a on the budget, that would be terrific. and with that i turn it over to sylvia. >> thanks, jay. the president's 2015 budget, which we released earlier today, is basically a fiscal road map for accelerating economic growth, expanding opportunity and ensuring fiscal responsibility. it includes fully paid for investments in infrastructure, job training, preschool and pro-work tax cuts.
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at the same time it reduces deficits and strengthens our long-term fiscal outlook. through additional health care reforms, tax reform and by fixing our broken immigration system. we recognize the importance of the bipartisan funding compromise reached by the congress and the budget shows the president's spending priorities at the 2015 spending levels that were agreed to in the deal. however, we believe those are not sufficient, both in 2015 and beyond, and to ensure the nation is achieving its fullest otential. for that reason, the budget includes an opportunity, growth and security initiative that is fully paid for. it's split evenly between defense and nondefense and it presents additional investments n things like education,
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with a balance package of spending cuts and tax reforms, so it is deficit neutral. supporting what the president said in the state of the union, the budget includes a series of measures to create jobs and accelerate growth in the economy. for example, as the administration announced last week, the budget lays out an ambitious $302 billion infrastructure proposal that's paid for with the transition revenue from pro-growth business tax reform. it invests in american innovation and strengthens our manufacturing base. by supporting the president's oal of creating a national network of 45 manufacturing institutes. it supports groundbreaking research to fight disease, protect the environment and develop new technologies and enhances the administration's management efforts to deliver a government that's more effective, efficient and supportive of economic growth. the budget also includes measures designed to expand opportunity for all americans.
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for example, as gene will discuss, it doubles the maximum value of the earned income tax credit for childless workers, to build on the eitc success and encouraging people to enter the work force and reduce poverty. it invests in the president's vision of making access to high-quality preschool available to every 4-year-old and it invests in new efforts to drive greater performance and innovation in work force training. to ensure the nation's long-term fiscal strength, the budget focuses on what are the primary drivers of long-term debt and deficits. particularly health care cost growth and inadequate revenues to meet the needs of our aging population. it builds on the reforms of the affordable care act with another $400 billion in health care savings, continuing to slow health care cost growth while improving the quality of health care. it curves inefficient tax breaks that benefits the wealthiest and ensures that everyone is paying their fair share and calls for pro-growth immigration wmple
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-- immigration reform which we know would not only promote economic growth but help with the deficit. under the president's leadership, the deficit has already been cut in half as a share of the economy. by paying for the new investments and tackling our true fiscal challenges, the budget continues our progress. educing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the administration projects that economic growth will strengthen over the next several years as the economy continues to return to the full utilization of all its
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resources. the ongoing recovery will be aided by several factors. the overall shift of fiscal policy towards a more neutral stance, progress in household deleveraging, including gains in housing and stock market wealth and further potential for home building. this near-term recovery is consistent with c.b.o. which projects a similar pace of growth over the next three years. we assume that the growth rate converges to our projected 2.3% growth rate of potential g.d.p. this, too, is generally consistent with other forecasters, coming in slightly lower than the latest forecast by the blue chip panel of professional forecasters, in the middle of the range of the federal reserve's central tendency and slightly above c.b.o.'s longer run projection. we also project that inflation will remain low, that the
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unemployment rate will continue o fall over the next several years and that interest rates will rise as the economy continues its recovery. finally, i want to note that he forecast was locked in late november in order to give agencies time to prepare their budget estimate. in the 3 1/2 months since then, the economy has strengthened more than most forecasters expected. g.d.p. in the second half of 2013 grew at a 3.3% annual rate, exceeding the 2.3% forecasted by the blue chip at the time. moreover, the unemployment rate has fallen .6 percentage points since the forecast was completed, exceeding the decline expected by the blue chip and that is as the result of increased employment with the participation rate ticking up over that period. as a consequence, if we were doing the forecast today, we would be projecting a higher starting off point for real
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g.d.p. in 2014 and a lower unemployment rate in 2014. overall, however, these changes would likely have only a small impact on the medium term budget outlook. we will, of course, have a fully updated economic and budget projection in the mid session review this summer that will incorporate both the positive and negative surprises since the budget forecast was finalized. and with that we'll go to cecilia. >> thank you, jason. good afternoon, everybody. it won't surprise anyone in the room to hear that for the president providing opportunity for all starts that ensuring that every child in america has access to a world class education and this budget reflects investments from the -- that run the spectrum from the early childhood space to higher education. starting with restating the president's vision to bring high quality preschool to all 4-year-olds in this country and as a down payment on that vision, the budget includes a $500 million request which is double the amount proposed in the 2014 budget for preschool
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development grants to help states and cities get started in enhancing and expanding their preschool programs. the preschool initiative is paired with a $650 million initiative to support early head start partnerships that will boost the supply of infant -- high-quality infant and toddler care for 100,000 children. this budget also proposes a new race to the top for america's schools, which is a $300 million program to incentivize states and school districts to adopt a comprehensive approach on closing opportunity and achievement gaps. and the budget also includes the president's vision for high school redesign, an initiative to encourage school districts and their partners to rethink what happens in high school, prioritize innovation, project-based learning opportunities that are tied to real-world experiences. and there's a $200 million investment for what we call connect educators which is a professional development initiative tied to our connect ed initiative which is aimed at helping teachers use technology in classrooms effectively.
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the budget also reflects the president's vision with respect to higher education, particularly with the focus on access, affordability and completion. that includes pell grants, launching a competitive state higher education performance fund to drive systemic reform across the public higher education. and also supporting innovation through a first in the world program which would reward colleges and universities specifically for taking on innovative strategies to drive down the cost and drive up quality. so i know that we'll have time for questions on a range of other issues, but i want to flag one additional issue outside the education space. this is one of the elements of the president's opportunity growth and security initiative. it's an innovative piece of work. we call it the climate resilience fund. the president spoke about it in his recent trip to california. i draw your attention to it again because we take very seriously of our relationship with state, local, tribal governments who are engaged now
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in deliberate work to prepare and coordinate planning for the impacts of climate change. including the extreme weather conditions which many parts of the country have been experiencing. so this is a climate resilience fund. it's $1 billion investment in these efforts. it includes investing in research and unlocking data and helping communities plan and prepare and funding break through technologies and resilient infrastructure that will help communities across the country better prepare for the effects of climate change. so with that let me turn to my colleague, gene sperling. i should just say this is a guy that's dedicated to his career toward fostering growth and opportunity for all americans and he will be greatly missed when he returns to his family in los angeles. >> thank you. thank you very much, cecilia. this is a pro-growth and pro-opportunity budget. for the reason is he solia said, it, one, creates more demand and job growth in the outset when we need it. it makes more room in the domestic discretionary budget for the things that investment
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invests in our future and growth and productivity and fairness and it focuses on the deficit reduction in the long term where it will monitor confidence. but it's also pro-growth and pro-opportunity budget because it has very sound, evidence-driven initiatives that should be alive for consideration because for those who want to work together for economic growth. some of the ones that is he vealia just mentioned -- cecilia just mentioned high school redesign. let me mention three. one you just saw, the president is putting forward another significant provision in the earned income tax credit. the proposal that you heard discussed, that we put out some details on yesterday, will be the first major extension of e earned income tax credit for independent children since 1993. it will address so many policy issues that people have raised
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from how to encourage younger people to encourage work, help people with disabilities, get and nto the work force ensure more people with the earned income tax credit, minimum wage, don't live in poverty or raise any family members in poverty. this is an t -- important progression. there were 1.4 million americans being pulled out of poverty because of the earned income tax credit or some refundable tax credits. today it is 10 million. that's one of the major progressive achievements in which the president has furthered, both in his 2009 budget and then extending those refundable tax credits in 2010 and 2012, up for the next five years and he calls for them to be permanent in his budget. at this would do is it would
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double the earned income tax credit for childless adults. it would increase the amount. it would keep the phase in longer so people up to $18,000 this. e eligible for in terms of impact, 13.5 million americans would benefit from this. 5.8 million new americans and 7.7 million would get a deeper earned income tax credit. let me give you one specific example. if you are right at the poverty line for an individual, right at the poverty line, that's $11,760. under the current earned income tax credit you would get a $239 eitc. under the president's proposal, you would get $974. it would be four times larger for an individual right at the poverty level. this is something, this is a concept that has bipartisan support. and for those who are serious
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about not just talking the talk but walking the walk on reducing poverty and helping low-income working families, they should support this -- the president's initiative on the earned income tax credit. secondly, the president's put forward a job compromise on corporate tax reform and infrastructure and which he puts out greater details here. his corporate tax reform has the same elements. it is still revenue neutral. it goes to a 28% rate, 25% for manufacturing, has the minimum tax and is revenue neutral in the long term but has $150 billion in temporary one-time revenues that come in. and what the president suggests doing with that $150 billion is putting it towards the highway and the transportation re-authorization, $63 billion to close the existing financing gap, the hole that exists right now, because the gas tax
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doesn't cover everything. plus an additional $87 billion that would allow virtually $22 billion more a year for jobs, fixing things first, deferred maintenance, investments in the future. this is, again, this should be the type of proposal that is alive for discussion. chairman camp actually in his tax reform proposal devoted a similar amount of resources in the first 10 years to highway re-authorization. again, this is an idea that should be alive and well. third, in addition to the proposals cecilia mentioned, the president puts forward in here on the job-driven skills agenda, the job-driven skills agenda, the skills needed to get people the jobs that are open that they need that will be open, the proposals here are based on solid evidence and they have bipartisan support. there's a $4 billion initiative on community college innovation. $2 billion on apprenticeship
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fund. a re-employment plan, $2 billion for bridge to work, to make sure that while people are unemployed they can have a chance to connect to a job and still have basic labor protections. third, dislocated workers and long-term unemployment, we do reform. the president reforms together. the trade adjustment program. and the existing dislocated worker program into one program that's simple and clear and reformed and accountable. but in doing that he would increase from 530,000 to over a million the people who could get more intensive services as they try to find a new job. and a $4 billion fund for public-private partnerships for the long-term unemployed. and then finally initiatives that would give employers subsidies and help if they hired youth that are disadvantaged or people in
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particularly face high unemployment rates, those on native americans, those with disadvantages, those with serious disabilities. this is again a commonsense agenda. there's a lot of people talking the talk here. we're for reform agenda but reform can bring forth more resources to be used well. >> ok. we now go to questions for participants today. start with cheryl. jason, on economic -- [inaudible] do you agree with that and why or why not? >> i would describe our forecast as broadly in the same neighborhood as c.b.o.'s and the difference between the two forecasts is much smaller than the uncertainty that the c.b.o.
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and the administration face in projecting future economic growth. if you look over the next three years, we're both projecting an average annual growth rate of 3.3%. after that, as you said, c.b.o. is below us in terms of potential growth rate. the blue chip forecast in their -- and their most recent long-run forecast was done in october, they're at 2.4%. the federal reserve is between 2.2% to 2.4%. we are right in the middle at 2.3. there is a range. those are smaller than the uncertainty we face. >> question. brn blenauble -- insawedible] i was wondering if you consider that an achievement or failure? >> i think what we think is that the proposed president's
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budget is the right level over the 10-year period, and that we believe that those levels are the correct level. i think it is an argument for why the president's budget, as proposed, and the levels we proposed both in discretionary levels and other levels are the ight levels. >> you list discretionary spending totals for all departments. does it include opportunity growth and security fund dollars, or are those not included? >> those are not included. so the totals that you see in terms of the departmental totals are each what we would do under meeting the 15 levels of the ryan-murray agreement. >> alexis. >> there's been a lot of debate, discussion, whether the affordable care act is bankable savings in the health care costs over the long term. can you just describe how you've calculated in the budget the long-term effects of the
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a.c.a. health care costs in terms of deficits or building it in for a 10-year reduction? >> those estimates are done by c.m.s., working with o.m.b. so they're not estimates that i've done but i can tell you from the analysis that we've done at the council of economic advisors, which is consistent with the way both c.b.o. and the administration have updated their baselines for outyear health costs has been observing that. you've seen three years in a row of very low health growth. if you look on a per beneficiary-inflation adjusted basis, medicare has been 0.04%. and medicare has actually fallen, that the economy doesn't have a substantial impact on medicaid, so some people debated whether the recession cautsed -- caused the slowdown. i think that's a major cause of what you've seen in medicare.
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it's been a combination of policies in the affordable care act that have helped reduce the cost and increase the quality as well as underlying structural changes in the health system. and you've seen both the actuaries and their independent outyear projections for national health expenditures, c.b.o. and the administration all assume that a lot of those effects will continue and result in lower spending in the future than originally was projected. >> because they were projecting how much has the health care impacted it? >> the difference between those two is policy. you just quoted the c.b.o. number which assumes no policy. the president's policies would reduce the deficit by 1.8% of g.d.p. in the last year of the budget window. as a result, obviously the deficit is a lot better with deficit reduction, which is what we're showing in our
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budget, than if you didn't have deficit reduction, which is what a budget baseline would show. there's some other technical differences between our outyear forecast. they're mostly on the revenue side, though, not on the spending side. both of them include a.c.a. because it's the law of the and. >> this is for anyone. tax provisions vary from current law like maybe the certain expired tax provisions or extenders? >> well, obviously we have a set of proposals in there, so one of the places where -- that's in our -- assumed in our budget is that in the 2010 and 2012 budgets, the president extended his increases for the refundability in the child tax
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credit. the increases in the earned income tax credit for three children or more and the marriage penalty and one of the president's innovation and earned income tax credit was that a portion of that was also refundable. in the budget agreement those were extended for another five years through 2017. we would assume that those are extended permanently. we believe very strongly in that if those were to expire, those would be a significant tax increase in those years for , you know, well over 20 million low-income working households. we obviously have a range of tax proposals in our budget. many of them have been there before. there's a couple of new ones. one of the ways that we pay for the earned income tax credit is to close a loophole where
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people in passthroughs who are materially involved, who actually work there, may try to take their income as business investment as a way of avoiding payroll tax cuts. that's something that's often been proposed. that becomes a significant way together with carried interest of paying for the earned income tax credit increase so that -- so that is a deficit neutral way that we could provide that help for 13 1/2 hardworking mericans and -- 13 1/2 million hardworking americans and in a way that's revenue neutral and in a way we would be closing existing loopholes and without adding any new taxes there. of course that includes the basic provisions the president's had the last few years that would be part of his vision that was described of a balanced agreement, both in terms of reducing expenditures for high-income individuals and
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closing loopholes for, you know, overseas tax evasion and other measures. >> yes, sir. >> yes. i'm wondering -- and what would you say to democrats -- excuse me -- democrats on the hill and federal employees who complain that the 1% pay increase is not enough coming off three-year pay freeze and also pay raise that doesn't keep pace with inflation? >> i would respond, first, the importance of our federal employees and our federal work force and the respect that the administration has for that and the recognition it has been a challenging number of years as you and i discussed, certainly, at o.m.b. which has a large number of career staff. we've felt that deeply. the second thing i would say, there were things in previous budgets that no longer are with regard to relationship to federal employee pensions and
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that we are pleased we can do the 1%. the last thing i would say is, he budget levels, the 2014 and 2015 budget levels that were agreed with in ryan-murray, when one compares the 2015 level to the 2014 level they are basically the same. and so when you account for things that have natural growth such as veterans' benefits and the nondefense discretionary side, you see how tight the numbers are to produce a 2015 budget. we, the administration, get the opportunity to do this first. the congress will do it next, but people will start to know how tight the numbers are. and in that context, there are puts and takes that have to be made and tradeoffs at flat levels and we believe that our federal employees were something that deserved the increase. the 1% increase is something we felt we could do in terms of the budget constraints. >> yes, ma'am. >> could you discuss the provision for training and
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development for federal puts in and how that overall spending for conference and travel? >> terms of the relationship between the two things, the office of management and budget, together with g.s.a. and others, have been a part of trying to reduce conference spending, and that has occurred over the past several years. with regard to the issue of training and our federal work force, it's part of thinking how the overall government does better management. you will see articulated in the budget volumes, you will see a discussion of four major areas of emphasis that are about where we want to build on the management efforts of the first administration. knows areas are in effectiveness and that means serving our customers, the citizens and business as well. efficiency, that means using the taxpayer dollar best. that is shared services where you see h.u.d. -- the housing
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and urban development actually budget and the we'll do shared services. the third area is making sure we promote management of the government that promotes economic growth. that's permitting which i think everyone knows here the permitting effort. the training comes to people and the belief as one thinks about an agenda for management we need to think about how we think about helping our work force be the best that it can possibly be so there are investments we are doing in training the federal work force. and so that's how that piece fits into the broader picture. we don't consider it related to the conference part. we consider this piece a part of a broader overall management agenda that emphasizes one of the pieces of that, focusing on the federal work force in terms of trying to have a work force that is able to deliver on the
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other three. >> yes, sir. >> can you comment on the balance between tax cuts and -- >> director burwell will be on capitol hill testifying on the budget. watch all of this on c-span.org. we'll leave here and take you live back to the house floor as they resume consideration of four bills. votes after 6:30. the speaker pro tempore: the chair recognizes the gentleman from washington. >> i mr. hastings: i ask unanimous consent that all members have five days to revise and extend their remarks. the speaker pro tempore: without objection. mr. hastings: i yield myself as much time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. hastings: thank you, mr. speaker. mr. speaker, this bill reflects decades of work, work by local
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citizens who organized to reject the dictates of the federal bureaucracy and to protect public access and recreation. at the same time that this bill designates new wilderness, it also provides critical protections for the public's ability to visit and enjoy the sleepy bear dunes national lake shore in the state of michigan. let me give a little bit of background. in 1981, the national park service proposed a general management plan for the lake shore in michigan. the plan was so restrictive as to be punitive towards recreation. and it sparked a local backlash. after years of collaboration, a new plan was agreed upon that realigned the wilderness boundaries to restore sensible public access. this legislation would codify these negotiated changes into law and ensure continued
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availability of roads for visitors traveling to remote trail heads, to beaches, to back country areas, and to historic areas within this geography. the bill act protects motor boat access to the shore line. it specifically protects private property rights, it preserves hunting and finishing rights -- fishing rights and it does not expand federal land ownership or add any additional costs to taxpayers. as i stated, this effort has been going on for several decades. after the house votes today, this bill will go to the president for his signature to become law. but, mr. speaker, the real credit for this legislation, even though it's a senate bill, is owed to our colleague from michigan, dr. ben check, for making this happen -- ben shack for making this happen. benishek, for making this
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happen. he's been a persuasive advocate for this local proposal. as the chairman of the house natural resources committee that oversees this bill, i can state with certainty that it's because of his, dr. benishek's, bipartisan earths that this bill is passing -- efforts that this bill is passing the house and will pass the house tonight. he has worked closely with both republicans and democrats, especially his senior senator, senator levin of michigan, to make this a reality. without their personal efforts, today's votes wouldn't have happened. dr. benishek certainly deserves recognition for the system and i congratulate him and the people of michigan that he represents for this legislation. with that i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from nevada is recognized. mr. horsford: thank you, mr. speaker. i ask unanimous consent to revise and extend my remarks. the speaker pro tempore: without objection. mr. horsford: thank you. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. horsford: thank you. i'd like to thank the
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gentleman, our chairman from the natural resources committee, and to be here on behalf of the minority to speak in favor of s. 23, which is a locally driven conservation initiative that will make the management of a national park unit more efficient and create the first new acres of wilderness enacted into the system since 2009. adding approximately 30,000 acres of wilderness will protect the special character of sleeping bear dunes national lake shore in michigan. passage of this bill is going to make a lot of people very happy. and i hope it's a sign of change to come. congress should not stand in the way of locally drive be conservation initiatives -- driven conservation initiatives and we look forward to working with the majority to identify more opportunities to work together and move legislation that merits our attention. there are a lot more wilderness bills, monument designations
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and wild and scenic river bills that the house should consider. we happily support adoption of senate 23 and, mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from washington is recognized. mr. hastings: mr. speaker, i am very pleased to yield five minutes to the author of the house legislation of which -- of what we're voting on is a companion from the senate, to dr. benishek from michigan. the speaker pro tempore: the gentleman from michigan is recognized for five minutes. mr. benishek: thank you, mr. chairman. mr. speaker, today i rise in support of senate bill 23, the sleeping bear dunes national lake shore conservation and recreation act. as you know this bill, which passed the senate by unanimous consent on june 19, 2013, is identical to h.r. 163, legislation i introduced by the same title last january, with the full support of the michigan delegation. as you know, sleeping bear dunes national lake shore is a treasured area of my home
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district. and for the united entire nation. the park has been named the -- america's most beautiful place by "good morning america" and over a million visiters from around the world come to see the dunes and the surrounding lakes each year. sleeping bear dunes national lake shore plays a vital role in our state's outdoor recreation economy. which contributes over $18 billion in consumer spending and over 194,000 jobs to the state of michigan. as pamela of lake township said, sleeping bear is vital to the economy of northern michigan. most of the money earned in this area is in the summer months when tourists from all over the country visit. from gas stations to ice cream stands, to local hotels, local businesses look forward to a full and thriving park season each year. in 1981, congress determined that wilderness areas should exist within this park and over
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30,000 acres of park have been managed as wilderness since that time. when they began to update the proposed map for the first time since 1981, the local residents discovered for the first time that the map included a number of county roads, beaches and historic sites in its proposed wilderness area. as you can imagine, local residents were not pleased and the public planning period began. because of the very public local opposition to the original land management plan, the park service agreed to go back to the drawing board. they worked together with the local citizens and interest groups ranging from area businesses to environmental groups and after gathering extensive public involvement, review and comment, a final general management plan was adopted. in january, 2009. this plan ensures that all county roads will remain in control of the local government
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and beaches and historic sites will be excluded from the wilderness map. the bill on the floor here today represents the hard work of these engaged citizens. it has been introduced each congress in both the house and the senate, since 2009. this legislation like the park itself has always enjoyed wide support from the entire michigan delegation. on both sides of the aisle. while we may not agree on every issue, we can agree that our local communities know best when it comes to planning for the future of our parks. mr. speaker, i'm honored to have worked with those who have come before me from chairman camp to former representative hoekstra, to representative huizenga and senator levin, to shepherd this bill through congress. my goal is simple. like all those who love this amazing stretch of shore line, i want to ensure that those beaches and roads remain open. i hope everyone will join me in visiting sleeping bear dunes soon. you'll get to see how truly blessed northern michigan is to have this amazing natural
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wonder. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from nevada voiced. mr. horsford: mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentleman from washington is recognized. mr. hastings: mr. speaker, i'm very pleased to yield two minutes to another co-sponsor of this legislation, the chairman of the ways and means committee, mr. camp from michigan. the speaker pro tempore: the gentleman from michigan is recognized for two minutes. mr. camp: thank you, mr. speaker. and i thank the gentleman for yielding. i rise today in strong support of the bill offered by my colleague and friend, mr. dan benishek of michigan. the sleeping bear dunes national lake shore is not just a michigan but a national treasure. it's enjoyed by over one million visitors from across the state, country and world each year. in fact, in 2011 sleeping bear was voted the most beautiful place in america by a poll conducted by "good morning america." this bill is the product of years of work between members of the public, the national park service and local, state and federal officials. it strikes a careful balance between conservation and
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recreation. in addition to protecting this vital natural resource, the bill ensures that the beaches of lake michigan will be accessible to the public and that hunting and fishing rights as well as boating access will be maintained. i hope the rest of the house will join me today in supporting the sleeping bear dunes national lake shore conservation and recreation act so that this national treasure can be enjoyed could its -- to its fullest now and for many generations to come and i reserve the balance of my time. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from nevada is recognized. mr. horsford: thank you, mr. speaker. again, just to reiterate, we fully support senate bill 23, look forward to its passage and i look forward to visiting one day this beautiful location in michigan and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from washington is recognized. mr. hastings: thank you, mr. speaker. i urge adoption of the legislation, i yield back my time. the speaker pro tempore: the gentleman yields back the balance of his time. the question is will the house suspend the rules and pass senate 23.
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those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed and, without objection, the motion to reconsider is laid on the table. for what purpose does the gentleman from washington seek recognition? mr. hastings: i move to suspend the rules and pass h.r. 2323 -- 2259 as amended. the speaker pro tempore: the clerk will report the title of the bill. the clerk: union calendar number 276, h.r. 2259, a bill to withdraw certain federal land and interests in that land from location entry and patent under the mining laws and disposition under the mineral and geothermal leasing laws and to preserve existing uses. the speaker pro tempore: pursuant to the rule, the gentleman from washington, mr. hastings, and the gentleman from nevada, mr. horsford, each will control 20 minutes. the chair recognizes the gentleman from washington. mr. hastings: mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and extend their remarks and
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include extraneous material on the bill -- legislation under consideration. the speaker pro tempore: without objection. mr. hastings: i yield myself such time as i may consume. mr. speaker, the legislation before the house today enjoys bipartisan and bicameral support in congress and the strong endorsement of the affected local communities. our colleague, mr. daines of montana, is a lead sponsor of this bill and has championed its action here in the house. i can assure everyone it's because of his leadership, his commitment and energy that this legislation will pass the house today. mr. daines has put the interests of montana first and has been willing to work in a bipartisan way with republicans and democrats to get this bill passed. mr. speaker, the north fork watershed protection act would codify protections of federal forest lands in the north fork watershed from development in accordance with a memorandum of understanding signed in 2010 between the providence of
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british columbia and the state of montana. very significantly, the bill makes certain in law that existing uses, including public recreation, livestock management, and forest management are protected and not restricted. this bill ensures that this region stays accessible for most of the traditional activities in this beautiful part of montana. mr. speaker -- mr. speaker, in 988, the ninth circuit court joined the department of interior for any activity on oil in this area. since then, no oil or gas development has taken place in this area and several lease holders have voluntarily relinquished their leases within this area. the state of montana has made clear its desire to partner with british columbia, as i've mentioned, to protect this watershed. h.r. 2259 would similarly protect the federal land located within this region. again, i'd like to recognize
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the author of this legislation, mr. daines, for his hard work and leadership, and i urge my colleagues to support this legislation and i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from nevada is recognized. mr. horsford: thank you, mr. speaker. i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. horsford: thank you. h.r. 2259 will protect an important watershed and recreational resource west of glacier national park and we are glad to see it on the suspension calendar. it is a widely supported initiative in montana that will conserve a treasured landscape that belongs to every american. some places are just too special to allow short-term commercial considerations to potentially harm their long-term viability. stakeholders in montana identified the importance of the north for watershed, an area that supports the recreation-based economy, provides clean drinking water, and allows wildlife to thrive. h.r. 2259 guarantees that this
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area will not be threatened by unfettered energy development. we support this bill and urge its adoption and, mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from washington is recognized. mr. hastings: thank you, mr. speaker. mr. speaker, i'm very pleased to yield six minutes to the author of this legislation, the gentleman from montana, mr. daines. the speaker pro tempore: the gentleman from montana is recognized for six minutes. . mr. daines: mr. speaker, i ask unanimous consent to revise and extend my remarks. the speaker pro tempore: without objection. mr. daines: i want to give my thanks to the chairman of the natural resources committee for his support and leadership in moving this bill through the house. and mr. speaker, i rise today to proudly offer h.r. 2259, north fork watershed protection act for consideration in the full house. this bill is special to the people of montana for many
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reasons. the flathead river is one of the most cherished waterways in our state and our country for trout fishing. it is a red ribbon stream. the flathead is an area beloved for recreation and supporting the region's forest-based economy and last but not least, this watershed is a gateway to one of the crown jewels to the national park system, glacier national park. protecting the watershed and ensuring its value extends for future generations has been a task shared by governors and state legislators of both parties and our neighboring canadian province of british colombia as well as our local chambers of commerce and supported by our senators. we all support protecting this area for future generations.
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and it makes this bill the first lands legislation supported by the entire montana delegation in nearly 30 years. the act protects 430,000 acres along the north from mineral development. 80% of leases in this area have already been voluntarily relinquished and the bill protects the rights of existing lease holders and no loss in prouk. the north fork watershed protection act presents commonsense management and washington, d.c. needs more of this. the act ensures the region's current uses, forest management, hunting, fishing, outdoor recreation and quality water supply for local communities, access to infrastructure
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maintenance and livestock grazing and ensure this will continue for many generations to come because that's our way of life in montana. the north fork watershed protection act is key. in fact, in february of 2010, the province of british colombia and montana signed a memorandum of understanding to preclude mineral development along the flat head. they completed prohibition of this in 2011 and north fork watershed protection act is necessary to hold up the u.s. end of the bargain and to be a good neighbor. the canadian province has expended significant resources for the sake of this agreement and strongly supports passage of this legislation so their efforts will be solidified. the bill represents an unprecedented mix of supporters from conoco phillips and chevron
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to ducks unlimited to needor roosevelt partnership and the local chambers of commerce. this is reflective of the bill's strong support among the people of montana. it's time we get this done. we have been working towards protecting the flathead for decades. 1974 when it was montana's congressman in the house, i'm proud to be part of the effort to get it done and across the finish line. passage of the north fork watershed protection act is a major step for the commonsense goal that the people of montana have worked together for decades. the senator has now retired and now serving in china, the passage of the north fork watershed protection act will
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send a strong message to the senate. the north forkof watershed protection act. mr. horsford: we support h.r. 2259 and i yield back. the speaker pro tempore: the gentleman from washington is recognized. mr. hastings: i urge my colleagues to support this legislation and i yield back. the speaker pro tempore: the question is will the house suspend the rules and pass the bill as amended. those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 being in the affirmative, the rules are suspended, the bill is passed and without objection, the motion to reconsider is laid on the table.
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>> i move the house pass the insurance lood affordability act. the clerk: affordability to consumers of flood insurance premium increases. the speaker pro tempore: the gentlewoman from west virginia and the gentlewoman from california, ms. waters each will control 20 minutes. the chair recognizes the gentlewoman from west virginia. mrs. capito: i ask members have five legislative days to revise
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and extend their remarks and submit extraneous materials on h.r. 3370. the speaker pro tempore: without objection. mrs. capito: i yield myself 1 1/2 minutes. i rise in strong support of the homeowner flood insurance affordability act. last congress, overwhelming majorities in the house and senate including my colleagues from west virginia voted for the passage of biggert-waters and significant reforms were needed for the program. when the new flood rate insurance -- when the new flood insurance rates were published last fall, i met with many people in west virginia who were shocked by the flood increases in their bills that far exceeded the worst-case scenarios. their only choice was to spend life savings or walk away from their house. the bill before us today will
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make sure people who purchased their home only to see their premiums skyrocketed stay in their homes. they will see their premiums rise towards a sound rate but on a path that is much more affordable. we are taking steps to fix some of the mapping issues in the flood program. many of my constituents told me they are in a special flood hazard area despite no evidence that the area ever flooding. these two issues address the cor problems. unaffordable rates and incorrect mapping. there is no question that it is broken. we need to take steps to put it on solid financial footing and just because people bought a new home is not the way to do it and that was not the organization intent of biggert-waters. i reserve the balance. the speaker pro tempore: the gentlelady reserves. the gentlelady from california is recognized.
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ms. waters: i yield myself such time as i may consume. rise in support of h.r. 3370, the homeowner flood insurance affordability act. today, i am pleased to lead the democratic party in delivering this message to the thousands of ericans who are facing unaffordable flood insurance premiums. relief is on the way. as we committed many months ago, democrats have worked to fix this problem from the moment we heard about the unintended consequences of the act. mr. speaker, because i'm the waters of the biggert-waters flood insurance reform act, i felt a responsibility to make sure we deal with the concerns that were coming to us from our constituents all over this country, the rate increases were unimaginable. and democratic lawmakers in the house and senate took action, spearheaded bipartisan
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legislation that passed the senate and garnered the support of the majority of the house of representatives. today, we have worked in good faith with republican leadership to achieve a measure that isn't perfect, but will provide real relief to the thousands of families currently facing unaffordable premiums. i believe this house strikes an important balance, addressing affordability concerns, bringing accountability to fema and protecting the stability of the national flood insurance program. it ends dramatic increases sauce caused by property sales and restores grandfathered rates for those who played by the rules and built their properties according to code. the families hit by unaffordable creases this bill provides improvements to this bill that were made by the democratic caucus.
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these include reasonable limitations on rate increases that one property can't experience, including those newly mapped interflood zones. we have ensured when fema gauges in the process of remapping, it actually works with communities to make sure it is being done accurately. and we have made fema more accountable by requiring that it provide clear and accurate information to anyone who may be affected by a change in policy. mr. speaker, this bill would not have come together without strong support and participation from the democratic party. i would like to thank leader pelosi and steny hoyer and senators landrieu and representative richmond and the leadership of so many democratic leaders across the country which was critical for taking this bill over the finish line. i applaud them. and i strongly urge my
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colleagues to support this bill. and let me say a word of thanks to someone very special on this, mr. eric cantor, who weighed in and did everything possible to work this out in a way that we can all be comfortable with. i'm pleased for the opportunity i have had to work with him and mr. grimm, who is sitting over there looking at me, because we started this out when others believed we could not do anything about it. but having said all of that, we have come together to do something good for the people of this country. and i will retain my time. the speaker pro tempore: the gentlelady reserves. the gentlelady from west virginia is recognized. mrs. capito: i yield two minutes to the author of this legislation and that is mr. gril from new york. the speaker pro tempore: the gentleman is recognized for two minutes. mr. grimm: it's almost surreal standing here right now and i almost don't believe that i'm
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about to vote on something that i promised my constituents. it's surreal because i'm standing here to do something for the reason i ran for congress, to be able to lead on an issue and solve a problem and come home and tell people that we got something done that is going to change your life for the better. i have to say a special thank you to maxine waters, the ranking member, who worked from the beginning. my dear friend, gregory meeks, representative richmond. and representative cassidy and representative lobiondo and eric cantor has been an absolute champion. and this is truly a could labttive effort. there has been gridlock and gamesmanship, we have come together because it goes to the heart of what we are here to do, make people's lives a little bit
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better. i just want to say thank you to so many that worked so hard and i will leave the rest of my colleagues to explain the particulars of the bill and thank you so much. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlewoman from california is recognized. ms. waters: i yield to representative meeks who served on the financial services committee. the speaker pro tempore: the gentleman is recognized for one minute. . . mr. payne: let me first thank congresswoman waters and michael grimm for working collectively to make this bill happen. just 17 months ago that residents in my congressional district, the nivet congressional district of new york, and others throughout america were devastated by europe storm -- superstorm sandy. but little did they know then that they were about to be hit
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by another storm and then came fema with astronomical rate increases to their flood insurance program. two strikes in the midst of severe recession and many of them were out. but this bill today, once we pass it and once the senate passes it, it will finally give relief to individuals who were wondering what they were going to do. many who had to pay already these astronomical rates. help is on its way. you'll get reimbursed. mr. meeks: many who did not know what the value of their properties would be. this bill faxes -- fixes. that i congratulate both sides. the speaker pro tempore: the gentleman's time has expired. the gentlelady from west virginia is recognized. mrs. capito: i now yield four minutes to mr. jeb hen sarling from texas. the speaker pro tempore: the gentleman from texas is recognized for four minutes. mr. hensarling: mr. speaker, our nation is tragically going broke. our national debt, which is skyrocketed under this
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president, is clearly by any measure on a dangerous and unsustainable path, a path that if not unaltered will leave our children with less freedom, fewer opportunities and a lower standard of living. that is beyond unfair, that's immoral. one reason america is going broke is because of poorly designed and costly government-run insurance programs. the national flood insurance program is one such program. its chief administrator has already testified that, quote, the nfip was by statute and design not actuarial sound. in fact, the program charges only 70% of what its administrators believe they actually need. perhaps that's why the program is currently $24 billion in the red to taxpayers and has no way to ever repay them. the nfip is not financially sound because pretty much every policy holder receives taxpayer subsidies. some guess geth explicit
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subsidies because the law prohibits the program from charging a it will full and fair rate based upon their calculated actuarial risk. others receive implicit subsidies because according to the g.a.o., the program uses a faulty model that undermeasures flood risk. at the end of the day, the program forces roughly 96% of all americans to subsidize the remaining 4% regardless of income or need. that means a single mom in dallas where i live, who's working hard as a cashier at a grocery store, may be forced to subsidize the flood insurance for some millionaire's beach front vacation home. if that's not the definition of unfair, i don't know what is. to its credit, in 2012 congress recognized that the government-run flood insurance program was fundamentally broken and unfair. we passed almost unanimously the biggert-waters act. it phases out most of the explicit subsidies over the next few years and requires
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rates to be more closely based on a proper -- on a property's actuarial degree of flood risk. now the first premiums are starting to come due. there's sticker shock. some based on fact, some based on fear. clearly there are many, many across our nation who have been unaware of their taxpayer funded subsidies. there are some who simply can't afford the new premiums and others who are now having trouble attempting to sell their homes. this should be addressed by congress. and that's why over the last eight weeks, chairman neugebauer and myself have put four different plans on the table for members who approached us about making modifications to the biggert-waters act. we agreed to go slower on reforms and to temporarily cap payments, as long as the program would eventually require all property owners to pay the fair amount that they owe and overall the program would begin to bring in more income so taxpayers could avoid yet another bailout. regrettably that is not the approach we are debating today. the house bill before us,
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although technically pay-go compliant, would postpone actuarialy sound rates for perhaps a generation. kill off a key element of risk-based pricing permanently which is necessary if we are to ever transition to market competition. finally it creates brand new subsidies for a program that is already bailout broke. mr. speaker, the senate bill isn't any better. it essentially represents a four-year freeze that is not pay-go compliant. my fear that either bill represents a big step backwards from reform and leads us just a few hurricanes or short years away from the next taxpayer bail justice. either bill will make it incredibly difficult to do what congress must do and that is phase out this unneeded government-run insurance program that fundamentally represents both an unfair and unsustainable middle income entitlement. i respect my colleagues who have a different view. i respect my leadership for bringing a bill that may not be optimum to the floor. mr. speaker, if we don't
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protect taxpayers today, how will we ever reform the gar gantt one middle income -- gar gantt women middle income crisis? i for one will vote no on this well-intended but misguided bill. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california is recognized. ms. waters: i yield to one of the co-authors of the bill that we put together to deal with this issue who's been working very hard on it, representative richmond from louisiana, two minutes. the speaker pro tempore: the gentleman from louisiana is recognized for two minutes. mr. richmond: thank you, mr. speaker, thank you, ranking member waters. and thank you to the republican leadership who brought this up. we often hear in this chamber ver and over again a talk of a financial bankruptcy that is plaguing or potentially plaguing our country. and we say it so much so that we start to believe it and we
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miss one thing. that we're on the verge of a moral bankruptcy in this country. when you talk about homeowners who played by the rules, saved their money, bought a piece of the american dream, and then all of a sudden, years if not decades later, we come back with a, well-intentioned bill -- with a well-intentioned bill but that had unfortunate, unintended consequences that would strip the american dream and homeownership right from under them. and then the question becomes to this congress, what do you do about it? , , i said this before congresswoman waters realized that her name was attached to a bill that potentially would strip homeowners of the american dream, of the largest piece of investment that you pass on from generation to generation and she stepped up and said, that is not what we intended. we're going to fix it. the republican leadership, mr.
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grimm, stepped up and said, this is unsustainable. and more than that, it doesn't make common sense. so both sides came together to produce a bill that would have affordability, stability and predictability. we talk about rules aum the time that corporations just want to know the rules so they can play by them. well, homeowners want to know that too. and homeowners who built to the building codes and the elevations that they were required to do at the time should not come back and be penalized later. so i just want to again congratulate congresswoman waters because people back in new orleans and in louisiana today that are celebrating fat tuesday and mardi gras and having a good time, they can just party a little bit longer knowing that we're here today and we're going to fix this problem that can strip their american dream away from them. with that, mr. chairman, i yield back. the speaker pro tempore: the gentlelady from west virginia is recognized. mrs. capito: mr. speaker, i now
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yield three minutes to the chairman of the housing and insurance subcommittee on financial services, my colleague, mr. neugebauer from texas. the speaker pro tempore: the gentleman from texas is recognized for three minutes. mr. neugebauer: i thank the gentlewoman. mr. speaker, i rise in opposition today to h.r. 3370, the national flood insurance program is in trouble. it is deeply -- it's in deep debt and it's putting taxpayers at risk for another government bailout. the program was added to the g.a.o.'s high-risk list in 2006 and remains there today because of its financial exposure it represents to the american taxpayers. today it's over $24 billion in debt and this number will continue to rise. recognize that congress -- recognizing this, congress passed the biggert-waters act in july of 2012. the act authorized the flood insurance program for five years and included important reforms to get it back on sound financial footing. one of these reforms was the gradual elimination of outdated rate subsidies. in a rare display of
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bipartisanship, republicans and democrats overwhelmingly supported the notion that risk-based premiums were needed for the program to be self-sufficient and to protect the taxpayers from further bailouts. over 400 members of congress voted for that. since then we've heard concerns from homeowners facing sticker shock from the higher rates. i'm sympathetic to those concerns. but i believe that a more responsible -- -- there are more responsible ways to address this bill than the bill before us today. the financial services committee put together four different proposals to address these concerns. the last one included an eight to 10-year phase-in and nearly a two-year affordability cap of $5,000. unfortunately each one of these proposals were rejected because they fell short, because maintaining subsidies indefinitely. that's unfortunate because maintaining these subsidies hurts everyone in the long run. it hurts taxpayers by putting them on the hook for billions of dollars in subsidies, it
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hurts the flood insurance program by easing its path toward insolvency and it hurts homeowners by encouraging them to build in areas that jeopardize their lives and their properties. after more than a decade, if i've learned anything in congress, is that the federal government does a terrible job of underwriting and pricing risk. whether it's through subsidies for failures to price risk due to political crucials, the american taxpayers unfortunately end up footing the bill. what's even worse under h.r. 3370 is that the taxpayers will be subsidizing rates that benefit only 1% of the households. more than 20% of the program's policies are heavily subsidized, regardless of need. and of those policy holders, 70% go to homes and counties with the highest priority values. while h.r. 3370 may help homeowners facing high rates in the short run, it does them a disservice by promoting a healthy -- by not pro proting -- promoting a healthy,
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financially stable program in the future. for taxpayers, homeowners and the auto future of the flood insurance, i think we can do better. i urge my colleagues to vote against h.r. 3370. i yield back my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from -- the gentlelady from california is recognized. ms. waters: i yield one minute to representative capuano who has spent an awful lot of time working on this issue with all of us. the speaker pro tempore: the gentleman from massachusetts is recognized for one minute. mr. capuano: thank you, mr. speaker. i want to thank mr. grim and others for bringing this bill forward -- mr. grimm and others for bringing this bill forward. i want to associate myself with all of the remarks of the people who support it. i want to associate myself with the remarks of people oppose it. i think we need to fix the problem of short funding and -- in the flood insurance program. but i don't think we need to do it overnight. i don't think we need to do it on the backs of middle class people with a hammer. so i want to fix this, i think this bill is actually a step forward to say, we'll fix it, we'll take some time doing it, to do it right.
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so innocent people don't get hurt. but i also want to take a minute to point out some of the things that are not in this bill that people need to be aware of. this bill does not address people owning vacation homes. i know some people think everyone who owns a vacation home is a multimillionaire, donald trump. the average income of a second homeowner is about $96,000. the average value of a second home is about $150,000. you don't see most of these homeowners on the home and garden network waws they're usually on wheels. they're just inexpensive places that people get to bring their families. most of these homes are not on the shore. but they are, not all of them, but some of them are in flood planes. we need to take this into account. thank you. the speaker pro tempore: the gentleman's time has expired. the gentlelady from west virginia is recognized. mrs. capito: thank you, mr. speaker. i now yield one minute to the gentleman from new york, mr. king, a member of the financial services committee. the speaker pro tempore: the gentleman from new york is recognized for one minute. mr. king: i thank the gentlelady for yielding. and i rise in strong support of
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h.r. 3370. at the outset let me thank congressman grimm, congressman lobiondo and ranking member waters for the work they've done in bringing together a true bipartisan bill to this floor. the biggert-waters bill was well intended but there was unintended consequences. some of those consequences would be absolutely devastating to hundreds if not thousands of constituents in my district who were devastated by hurricane sandy. i would just state for the record that these people are not millionaires, they complied with the law, with all the building codes, all the ordinances, they never had any flood damage in their 50, 60 years prior to this, but their homes are devastated. to add to, that the incredible get in they would premiums for flood insurance would be even -- ultimate devastation. so this bill is absolutely essential it. will decrease federal spending over the next five years. but it's important that we stand together to help those in need. people have complied with the laws, hardworking, blue collar americans who are of their homes and families and watt the
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opportunity to get back on their feet, they were devastated once. let's not do it again. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from california is recognized. ms. waters: i yield to the gentlelady from new york, representative maloney, the ranking member of the subcommittee on capital markets and government sponsored enterprise, one minute. the speaker pro tempore: the gentlelady from new york is recognized for one minute. mrs. maloney: i thank the gentlelady for her leadership and for authoring the grimm-waters bill which i support. this bill will protect homeowners from drastic premium increases, provide relief to housing markets and put the flood insurance program on a path to long-term solvency. the bill will also put a stop to fema's reckless implementation of biggert-waters, the g.a.o. found that fema doesn't even have the information that the g.a.o. said was key to determining a property's actual flood risk.
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fema has gone ahead and a shocking indifference to the impact of the middle-class families that are suffering across this country because of hurricane sandy, many of whom in my district. this bill will require fema to complete the affordable study act that was required and mandated in the prior legislation so independent experts can determine the best way to successfully balance the two main goals, consumer affordability and long-term solvency. this bill would set a hard cap on rate increases at 18% a year and will protect families and businesses from the kinds of 500% increases that they are suffering from now. i congratulate mrs. waters and congressman grimm. i urge a yes vote. the speaker pro tempore: the gentlelady from west virginia is recognized. mrs. capito: i yield one minute to the gentleman from from
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mississippi. the speaker pro tempore: the gentleman is recognized for one minute. mr. palazzo: this bill is both compassion nature and fiscally responsible. my priority has been to ensure that flood insurance remains affordable and available not just in mississippi but all across the country. many of the people who are now facing unrealistic overnight increases followed all of the rules. they went to great effort and expense to build back to fema standards after storms like hurricane katrina. congress never intended to punish responsible homeowners but fema is doing it as it implements the law with flawed maps. these are threatening individuals and family communities. we are not talking about wealthy homeowners. i hear from teachers, veterans, fishermen, and our bill holds fema accountable and provides
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responsible relief and lasting reforms. i urge my colleagues to join me in strong support for this bill. i yield back. the speaker pro tempore: the gentlewoman from california is recognized. ms. waters: i yield to mr. lynch , representative from massachusetts, two minutes and thank him for his hard work. the speaker pro tempore: the gentleman from massachusetts is recognized for two minutes. mr. lynch: i thank the gentlelady from california for her leadership on this bill, she has been a tiger on this issue trying to get this right. i want to thank mr. cantor and the republican leadership, mr. grimm from new york as well. and mr. richmond from louisiana, really, i think without their work collectively, this would not be happening. i rise in strong support of h.r. 3370, the homeowner flood insurance aaffordability act. i have had the honor of working
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with my colleagues, both republican and democrat to roll ack the harmful and ungin -- unintended consequences. this is a culmination by a lot of individuals as well as the activism on the part of our constituents. i have had the opportunity to attend some rallies and meetings in my district. over 1,000 people attending where the concerns and fears of my constituents were brought forward in great volume. h.r. 3370, the affordability -- the flood insurance affordability act will do a number of things. it reinstitutes or expands the grandfathering provisions in section 4 from what they were in the previous bill. a very important provision here. section 18 allows reimbursements for successful appeals. what that will do is if fema incorrectly as they have in many cases, if they put homes in a
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flood zone incorrectly and the homeowner appeals that, they get the money they expended for that appeal, for the surveying and technical assistance they need. in addition, in section 24, it provides for a flood insurance advocate to actually work on behalf of homeowners to make sure that they get the full and meaningful appeal they deserve and also that they understand what the flood mapping process requires. more fundamentally, this bill is an example of what we can achieve when congress works together and i honestly hope that this experience will build on the spirit of bipartisan cooperation. i urge my colleagues to vote in favor of this critical bill. and i yield back. the speaker pro tempore: the gentleman's time has expired. the gentlelady from west virginia is recognized. mrs. capito: i yield one minute to the gentleman from from new jersey, mr. lobiondo. the speaker pro tempore: the gentleman is recognized for one minute. mr. lobiondo: i rise in very strong support of this
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legislation. and we are about to do something tonight that doesn't happen very often. we are going to do a bipartisan effort that has common sense and fiscal responsibility, something we ought to be doing more often. this is an issue that maybe doesn't affect everyone, but if you are from a district where your constituents had their lives and dreams ripped apart first by superstorm sandy and miserable implementation of a flood insurance policy that was well intended but not put together, how are you going to fix it? this gives us hope for the future and chance to rebuild. 16 months later, i still have constituents who aren't able to get back in their homes. how are you going to tell them they have an unreasonable increase in their snood insurance? we need to follow through on this. have it changed and understand that this is the approach for
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the future. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from california is recognized. ms. waters: i thank the gentleman from new jersey for his input on this bill and his work and i yield one minute to representative pascrell. the speaker pro tempore: the gentleman is recognized for one minute. mr. pascrell: mr. speaker, it must be very painful for people to watch this when affected if you are on a river or ocean, because it's painful to hear some of the people who oppose this bill never voted, voted no on the sandy relief. so they are being consistent any way. after sandy, many of my constituents and towns such as little ferry, now experience a second blow from skyrocketing flood insurance rates, particularly the home sale trigger has resulted in a drastically higher flood insurance rate putting a wet blanket on real estate markets
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in flood-prone areas. the bill before us contains some very important changes, providing immediate relief by repealing the home sale trigger and reducing the increases. i'm hoping we can revisit increases that will provide relief to second homes and small businesses. although these are important first steps, we know we can do better. and i yield back and i thank all those who were involved in this. the speaker pro tempore: the gentlelady from west virginia is recognized. mrs. capito: i yield a minute and a half to dr. cassidy. the speaker pro tempore: the gentleman is recognized for a minute and a half. mr. cassidy: first, let me say this affects all americans. on this map, you can see if there is a color, there is a chance that you are affected. and chairman hensarling has pointed out, dallas ills a hot spot in red, a woman will
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benefit because of this reform. and all americans will. because it is our job in congress to protect the american citizen from agencies implementing laws in ways which are not sustainable. the flood maps that fema have been using have questionable calculations and unrelate particular rate increases. the bill before us today, which i worked with congressman grimm and others to strike the right balance takes into consideration both fiscal solvency and consumer affordability. first, the bill is paid for. it is paid for and the funds will go into the reserve fund so in the future there will be money money should there be another disaster. the national flood insurance program will enter into a death spiral. 1.4% of the subscribers drop off. people are getting 2,000%
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premium increases and they will drop off that puts it into a death spiral. this is the fiscally responsible thing that puts it on a path to ackturel soundness and benefits americans. a broad coalition of democrats, republicans have worked hard on this. i would like to thank my staff for a lot of the tremendous work. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california. ms. waters: i would like to recognize the gentlewoman from florida, the florida delegation, both democrats and republicans have been magnificent in helping to get us to this point and i yield one minute to representative castor and i thank her and representative hastings, buchanan and all of those from the florida delegation. the speaker pro tempore: the gentlelady from florida is recognized. ms. castor: i thank the gentlewoman from california for her leadership on behalf of all
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the families across the country. i urge all of our colleagues to vote yes on h.r. 3370 that will fix this flood insurance debacle. a bill was passed here in the house to address the solvency of the trust fund. that was the right thing to do. unfortunately it has unintended con see quenses that families and businesses have been dealing with. i'm heartened today because even though this congress has an unfortunate reputation for not addressing the challenges that face families across this country, we are going to come together today to address a very important financial issues for our families. and i would like to thank my colleagues from florida, congressman hastings, congressman bilirakis, congressman buchanan and all of our delegation for standing together.
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i urge all of our colleagues today to do the same. the speaker pro tempore: the gentlelady's time has expired. the gentlelady from west virginia is recognized. mrs. capito: i yield to mr. bilirakis from florida. the speaker pro tempore: the gentleman is recognized for one minute. mr. bilirakis: i rise today in support of this legislation sponsored by congressman grimm. it will provide relief for homeowners struggling to keep their homes. it will ensure that participants in the program are treated fairly and eliminate an untenable burden during these tough economic times. some say it will benefit the rich. middle-class retirees and those on fixed incomes are those suffering from rate increases of $10,000 or more. they are the ones who risk losing their homes. if congress fails to pass this bill, we will risk destroying all the reforms made to the
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national flood insurance program. we cannot let the perfect be the enemy of the good. i urge my colleagues on both sides of the aisle to support this commonsense legislation, a solution that helps people immediately and addresses the long-term issue. thank you, mr. speaker. and i also want to thank representative waters for her leadership on this bill. and of course, mr. cassidy and representative capito. the speaker pro tempore: the gentleman's time has expired. the gentlelady from california is recognized. ms. waters: i yield one minute to the gentleman from california who has been advising us that we really do have to make changes in the national flood insurance program, representative garamendi. thank you for your work. the gentleman is recognized. mr. garamendi: i rise in support of the bill and i thank congressman waters and representative grimm for their work. a lot to be said and a lot more
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work will go into this before it becomes law. this is a major step forward. in my district in california, in a zone that was mapped with 100-year flood protection, graded by the army corps of engineers and now a hazard area. last year, $700 a year for the flood insurance. this year, $7,000, which is about twice the mortgage on that house. not workable. we are seeing across my area insurance premiums of $10,000, $25,000. this bill would stop that. move things back and give us time to deal with the fundamental problem in flood insurance and that is the catastrophic coverage. more to be worked on. good progress. good bill. let's vote it out of here and get this thing solved. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentlelady from west virginia is recognized. mrs. capito: i recognize for one
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minute the gentleman from florida, mr. buchanan for one minute. the speaker pro tempore: the gentleman is recognized for one minute. mr. buchanan: floor insurance has been devastating the people in florida. in my region i have done multiple town halls. it has gone up $1,000%, 500%. businesses can't sell businesses. this bill will bring immediate relief and the market is frozen and will bring certainty to people who can sell and buy their homes. as a co-chair of the florida delegation, i thank my colleagues on both sides of the aisle because it is nice where we can work together to get something done for the american people. and i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlelady from california is recognized. . . .